Home Sales May Drop
Life Has Changed
As more businesses opened, they need buildings. Real estate investors built and sold affordable homes for the working class and high profile individuals. However, Covid-19 altered the trend, and the desires of everyone in the world changed.
The onset of Covid-19 affected the desires of individuals and businesses globally. Businesses closed down. People lost their jobs and some lost their homes and are planning to rent. The priority changed to staying safe from the virus. As no cure is in sight for the virus, it becomes a priority to focus on survival for many families. Everyone is cutting down on expenses and spending only on essentials – food, home supplies, and medicine.
It's Bad - But Will Improve
Until life gets normal again and the economy stabilizes, home sales may remain low. However, with the ease of lockdown and the economy gradually picking up, it is expected that home sales will pick up from the low of how the pandemic left it for three consecutive months.